Upcoming Events

Dublin | Anti-Capitalism

no events match your query!

New Events

Dublin

no events posted in last week

Blog Feeds

Spirit of Contradiction

offsite link The Party and the Ballot Box Sun Jul 14, 2019 22:24 | Gavin Mendel-Gleason

offsite link On The Decline and Fall of The American Empire and Socialism Sat Jan 26, 2019 01:52 | S. Duncan

offsite link What is Dogmatism and Why Does It Matter? Wed Mar 21, 2018 08:10 | Sylvia Smith

offsite link The Case of Comrade Dallas Mon Mar 19, 2018 19:44 | Sylvia Smith

offsite link Review: Do Religions Evolve? Mon Aug 14, 2017 19:54 | Dara McHugh

Spirit of Contradiction >>

Public Inquiry
Interested in maladministration. Estd. 2005

offsite link Public Services Card: Some still forced to comply

offsite link Catholic Church: Dark influence still active Anthony

offsite link Tom Parlon launches new career in comedy Anthony

offsite link Presumption of innocence does not universally apply in Ireland Anthony

offsite link The poor standard of Irish political journalism Anthony

Public Inquiry >>

The Saker
A bird's eye view of the vineyard

offsite link The Saker interviews Professor Seyed Mohammad Marandi Thu Aug 22, 2019 03:34 | The Saker
[this interview was made for the Unz Review] Introduction: first, several friends recently suggested that that I should interview Professor Seyed Mohammad Marandi; then I read this most interesting text

offsite link U.S.-UK Deep State Tries to Grab Hong Kong Thu Aug 22, 2019 02:11 | The Saker
by Eric Zuesse for The Saker Blog What can explain these recent instances, proven by Agence France-Press, in which outright frauds ? lies (in the form of faked photos and

offsite link The Russiagate hoax is now fully exposed. Tue Aug 20, 2019 16:24 | The Saker
by Eric Zuesse for The Saker Blog The last leg of the Russiagate hoax to become exposed was on August 16th, when Gareth Porter bannered at The American Conservative, ?U.S.

offsite link Moveable Feast Cafe 2019/08/20 ? Open Thread Tue Aug 20, 2019 13:00 | Herb Swanson
2019/08/20 12:00:02Welcome to the ‘Moveable Feast Cafe’. The ‘Moveable Feast’ is an open thread where readers can post wide ranging observations, articles, rants, off topic and have animate discussions of

offsite link ?Greater Lebanon?: where to? Mon Aug 19, 2019 19:06 | The Saker
by Ghassan Kadi for The Saker Blog Abou Omar, a close friend of mine, is one whom I have so much in common. Not only he was my boss many

The Saker >>

Human Rights in Ireland
A Blog About Human Rights

offsite link Saudi Human Rights Violation Fri Aug 09, 2019 20:41 | Human Rights

offsite link China?s LGBT Community Mon Apr 15, 2019 19:19 | Human Rights

offsite link Declaration of Human Rights at Sea Mon Apr 08, 2019 07:31 | Human Rights

offsite link NZ Watchdog On Limits Of Free Speech Thu Mar 28, 2019 11:44 | Human Rights

offsite link US Abortion Restrictions Violating The Human Rights Of Women Thu Mar 14, 2019 15:33 | Human Rights

Human Rights in Ireland >>

Beware the Zombie Developers and Vampire Bankers. Beware the myth that the wealth has disappeared!

category dublin | anti-capitalism | opinion/analysis author Wednesday October 20, 2010 17:18author by Gregor Kerr - 1% Networkauthor email 1percentnetwork at gmail dot com Report this post to the editors

Zombie developers….. Vampire bankers….. Ghost estate creators….. Black holes that swallow tens of billions of Euros…..

They sound like characters from a particularly eerie Hallowe’en tale of horrors. However while they might be spooky, there’s nothing fictional about this array of characters
where is all the money gone??
where is all the money gone??

Zombie developers….. Vampire bankers….. Ghost estate creators….. Black holes that swallow tens of billions of Euros…..

They sound like characters from a particularly eerie Hallowe’en tale of horrors. However while they might be spooky, there’s nothing fictional about this array of characters.

They stalked our land during the era of the recently-departed Celtic Tiger. But now they’ve gone to ground. They’ve disappeared, they would have us believe. And if they themselves haven’t actually physically disappeared, then their wealth most definitely has.

All gone – in a puff of smoke as it were. No spondulas left! Sure they’re all bankrupt now and really we ought to feel sorry for them. Except for the Black holes – because the Black holes are extremely ravenous. Let’s squeeze a last drop of blood out of the poor and the sick to sate the appetite of the Black holes.

And shouldn’t we all be glad to sacrifice what’s left of our health and education services to satisfy the Black holes – Isn’t it in the national interest and aren’t we all in this together?

Listening to the vast majority of media comment on the financial crisis, you’d be forgiven for thinking that there are no wealthy people left in Ireland. But the reality is that they do still exist and the wealthy today are the same people as the wealthy of a few years ago.
Consider:
• 1% of the Irish population owns 34% of the wealth (source: Bank of Ireland ‘Wealth of the Nations Report’ 2007)
• The wealthiest 5% of the Irish population owned assets worth €320 billion in 2007 (same source as above). Even if these assets have lost 40% of their value, that’s still €200billion worth of wealth.
• The number of Ireland’s High Net Worth Individuals (those with investable assets of more than $1 million) rose by over 10% to 18,100 in 2009. The number of Ultra High Net Worth Individuals (those with investable assets of more than $30 million) rose to 181. (source: Merrill Lynch Global Wealth Management ‘World Wealth Report’)
• According to a Central Statistics Office 2009 report Irish residents own €1,251 billion worth of foreign stocks and bonds. While it is unclear exactly what this figure represents (it is 10 times the figure for the wealthiest 1% quoted in the above ‘Wealth of the Nation’ report, but considerably lower than the €1,560 billion in funds held by IFSC companies who might claim to be resident for tax purposes), it’s clear that we are not ‘all in this together’.

The 1% Network takes its name from the fact quoted above that 1% of the population own 34% of the wealth. The network has come together to highlight the fact that wealth still exists in Ireland and to attempt to re-orientate the political discourse about the financial crisis to focus on how the glaring wealth divide can be tackled.

On Saturday evening, 30th October, we invite you to join us for an after dark Hallowe’en Treasure Hunt while we point out where just some of the supposedly disappeared wealth might be found.

Meeting at AIB Headquarters, Ballsbridge at 6:30p.m., we intend to take a ramble along some of the most expensive streets of Dublin where mansions have sold for up to €51 million. We will be having a look at some of the monsters who think the costs of the crisis should be paid for by the low paid, the sick and the unemployed rather than the 1% who own 34% of the wealth in the country.

Come along and join us. Fancy dress along the theme of Zombie developers, Vampire bankers, Ghost estates and Ravenous black holes encouraged but not required!

For more information on the 1% Network and for a report on our ‘Political Walking Tour through the heartland of the Golden Circle’ held on Saturday October 9th see www.onepercentnetwork.org. Contact us at 1percentnetwork@gmail.com.

Related Link: http://www.onepercentnetwork.org
author by opus diablos - the regressive hypocrite partypublication date Fri Oct 22, 2010 15:17author address author phone Report this post to the editors

I think it was on Matt Cooper last evening(its probably on a podcast) I heard one of these geniuses proposing(again) that these ghost estates be demolished because '.. they were in danger of becoming infested with vermin...and..and ...even people..'.

Cooper didn't seem to notice.

 
© 2001-2019 Independent Media Centre Ireland. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by Independent Media Centre Ireland. Disclaimer | Privacy